The global calcium propionate market is set to witness growth at a CAGR of 5.6% and top a valuation of USD 498 Mn by 2032.
In terms of product type, dry calcium propionate for confectionery and liquid calcium propionate together accounts for over 40 % of the Calcium Propionate market in 2022.
Due to the calcium propionate capabilities, the bakery goods category is expected to dominate the market in lowering chemical agents in yeast and bacteria, which is a prominent element in bread products. Furthermore, the dry calcium propionate segment is expected to dominate the market.
Calcium propionate demand is predicted to rise as the foodservice sector grows. Depending on the requirements, calcium propionate is frequently used in the baking and packaged food sectors of the food business. Due to higher bread consumption in developing nations, the expansion of the bread market is expected to boost demand for calcium propionate.
The calcium propionate market has achieved maturity in developed areas such as Europe and North America. Economies in the Middle East and Africa are expected to develop slowly until 2032, according to projections. However, the Asia-Pacific region is expected to grow at a considerably faster rate, owing to the expanding food industries in nations such as China and India.
In the food industry, natural calcium propionate is currently being utilised to make it as healthy to consume as organic calcium chloride. The food industry uses current technology such as bacteriophages, MAP, and other quality factors in conjunction with preservatives to protect food quality and safety.
The calcium propionate market is the world’s biggest preservative category. Despite the high cost of raw resources, this industry is confronted with difficulties. This component of the study is treated strategically, with a stronger emphasis on its commercial uses and potential business prospects. Increased R&D expenditure, particularly in developed economies like North America and Europe, is likely to provide market participants with growth prospects.
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Key Takeaways from Market Study
- The calcium propionate market is expected to expand at CAGRs of 9.8% and 15% in the US and Europe respectively, through 2032.
- The European calcium propionate market is currently pegged at USD 106 Mn.
- In comparison to the liquid form, the dry form of Calcium propionate will have a larger demand. The convenience with which the ingredient may be mixed into meals is one of the advantages of the dry form.
- By application, the bakery section holds the highest market share and is set to expand at a CAGR of 11%.
- The outbreak of COVID-19 disrupted the supply chain of calcium propionate, causing a trade slump. However, with nations giving possibilities and rising consumer demand for bakery items, the industry is likely to rise significantly.
“Producers of calcium propionate would gain significant profits by targeting the food & beverage industry. The bakery industry would also serve as a potential market for calcium propionate across the globe,” says a Future Market Insights analyst.
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Competitive Landscape
Calcium propionate producers are concentrating their efforts on research and development in order to improve the quality of their goods.
Kemin Industries: In 2018, the firm was bought by Agri-Marketing Corp., which is a Canadian corporation, in 2018. The firm was able to expand and open a new facility in Quebec as a result of this takeover.
Bio-Vet Inc: In the year 2019, the firm created a new section devoted to the mining and production of Calcium Propionate.
ADDCON: The firm extended its production facilities in Germany in 2019. This has been done in order to keep up with rising customer demand. The firm also updated its chemical park location and relocated its operations to a new management building in Germany in the same year.
About Food & Beverage Division at Future Market Insights
The Food & Beverage team at Future Market Insights provides all the necessary insights and consulting analysis to fulfill the unique business intelligence needs of clients worldwide. With a catalog of more than 500 reports pertaining to the latest statistics and analysis from the food & beverage industry, the team is happy to help with every business intelligence research and consulting requirement.